WASHINGTON. BREAKING NEWS *** President Barack Obama has just resigned the Presidency of the United States!

WASHINGTON. BREAKING NEWS *** President Barack Obama has resigned the Presidency of the United States!

President Barack Obama has shocked the nation! He called the White House Staff into the Oval Office and announced that he is going to resign as President of the United States. He has conceded the election to Mitt Romney.

The President has notified the broadcast networks that he wants to address the nation Friday (October 5th) night at 8pm. With the faltering economy, the potential overturning of Obamacare, his low approval level and after his devastating loss to Mitt Romney in the first Presidential debate – with dwindling donors – he has decided to call it quits.

President Obama faces numerous challenges at home and abroad. The economy is getting worse and everything he does seems to make it worse. Many in the White House feel that the President has fallen into a deep depression. There are rumors that he started taking Prozac last week.

He also does not feel that he has the experience on foreign policy to handle the ongoing conflicts in Iraq, Afghanistan as well as the new military action in Libya in addition to the turmoil in the Middle East.

But the President will seek to immediately calm Americans.

“I know that Joe Biden will be more than capable of stepping into the Presidency. He already is putting together his new cabinet,” President Obama told his staff. “Joe can hold the fort until Mitt takes over in January.”

White House Press Secretary, Jay Carney, would not comment, but said that the President will be “perfectly clear about his resignation tonight.”

Joe Biden was unavailable, but WWN talked to members of Biden’s staff, who say Biden is confident that he can handle all the challenges facing the country. “Joe is an expert on foreign policy. He knows he can deal effectively and swiftly with all military conflicts around the world.”

Rumors are that Biden may appoint Hillary Clinton as his Vice President. Further rumors have Joe Biden resigning in August, which would make Hillary President and put her in position to easily win re-election in November of 2012.